Oriole Resources PLC (LON:ORR)

Oriole Resources PLC is an AIM-listed gold exploration company, focused on Cameroon and West Africa.

Our main activity is exploration in Cameroon, where the Company identified multi-kilometre long gold anomalies within it’s Central Licence Package, including at it’s flagship Mbe project. At Mbe, the Company has published a Mineral Resource estimate of 870,000 oz contained Au at 1.09g/t Au in the JORC Inferred category at the MB01-S sub-prospect, one of two sub-prospects that make up the MB01 prospect. A JORC Exploration Target has also been published at MB01-N, the second sub-prospect that makes up MB01, which stands at between 15 and 20Mt with grades ranging from 0.77 to 0.95g/t Au for 370,000 to 605,000 oz contained Au. At the Company’s more advanced Bibemi project in northern Cameroon, a Mineral Resource estimate of 460,000 oz contained Au at 2.06g/t in the JORC Indicated and Inferred categories at the Bibemi project, and the Company has applied for an Exploitation Licence. BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects in return for a combined investment of US$1.5 million in signature payments, up to US$8 million in exploration expenditure, as well as JORC resource-based success payments. 

At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl (‘AGEM’), a wholly owned subsidiary of Managem Group, has completed a six-year earn-in to acquire an approximate 59% beneficial interest in the Senala Exploration Licence by spending US$5.8 million.  The Company has reported a Resource of 155,000oz contained gold at 1.26g/t Au in the JORC Inferred category for the Faré South prospect, and an additional, complementary Exploration Target range of 17 to 24Mt at a grade of 0.69 to 0.84g/t Au for 380,000 to 650,000oz contained gold for all prospects at Senala.  Discussions on the formation of a joint venture company are currently underway.  The Company also has several interests and royalties in companies operating in East Africa and Turkey that could give future cash payments.